Called "Sink or Swim: The Rising Tide of Member Onboarding and Engagement Strategies," the paper digs into how credit unions can build and implement member outreach strategies that can be the building blocks for lifelong relationships with new credit union members.

"Member onboarding and engagement is important for credit unions because, in the broadest terms, it supports the entire credit union movement," said Jeanette Radmer, development manager at Numerica CU, Spokane Valley, Wash., with $1.4 billion in assets. "Member onboarding and engagement helps tell your credit union story to members, thus establishing a better, deeper and more lasting relationship with those members."

In all, the paper covers:

Examining the importance of member onboarding and engagement;

Creating the elements of a strategic member onboarding and engagement plan;

Gaining executive management buy-in;

Analyzing necessary technology and staff training;

Personalizing the digital member experience; and

Reviewing best practices, tips and tactics.

At the end of each section of the paper, which relies heavily on advice and experience of credit union professionals from throughout the country, key takeaways that distill the message of each topic are listed.

For "gaining executive management buy-in," for example, the paper says that collaboration with management, as well as providing them examples to illustrate the cost of not onboarding, are important points to bring up when presenting the program.

Further, to achieve success, management should make it a strategic goal to transition the credit union from a transactional, product-focused operation to one that is focused on relationships.

"It's a long-term strategy and requires their full participation and support," the paper said.

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